PhonePe Tops UPI Charts in June With 8.5 Billion Transactions, Google Pay Follows, Paytm Slips to Third

UPI apps processed 18.4 billion transactions worth ₹24.04 lakh crore in June, with PhonePe and Google Pay leading usage, while BHIM re-entered the top 10 after 17 months.

PhonePe Tops UPI Charts in June With 8.5 Billion Transactions, Google Pay Follows, Paytm Slips to Third

According to NPCI data, in June 2025, the Unified Payments Interface (UPI) processed 18.4 billion transactions worth ₹24.04 lakh crore, making it India's preferred digital payment system. 

Two apps continue to rule this space: PhonePe and Google Pay, which together manage more than 82% of all UPI transactions by volume. PhonePe led the race with 8.55 billion transactions worth ₹11.99 lakh crore, accounting for almost 46.5% of the volume and 50% of the value.Google Pay processed 6.54 billion transactions, accounting for 35.6% of the volume and ₹8.41 lakh crore in value. 

Paytm, formerly an active participant, moved down to third place after 1.27 billion transactions, accounting for 6.9% of UPI volume.The decline occurs when PhonePe and Google Pay strengthen their reach. 

Other players, such as Navi (406 million transactions) and FamApp (113 million transactions), shown smaller but significant activity. Meanwhile, BHIM returned to the top 10 after 17 months, with 73 million transactions. 

On the banking side, SBI topped the charts with approximately 5 billion UPI transactions and an impressive 93.64% approval rate, while HDFC Bank and Bank of Baroda came in second and third place. 

Interestingly, UPI's growth rate is reducing as the market develops. However, with IPO-bound businesses like as PhonePe, Pine Labs, and Razorpay relying heavily on UPI, the ecosystem remains critical to India's digital payment revolution.

Information referenced in this article is from The Economic Times